Translate

Monday, November 12, 2018

2018 is ending, R-U ready to close your Books?



This is the time of the year where we need to be aware about the importance of closing our books in the right way.  The information that we are going to submit to the IRS office is fundamental to keep our records and calculate our Income tax correctly and on time.

Here are the steps that have to be taken to close your books:

1.    Enter all the transactions in the system.  All the transactions have to be entered in a book called the general ledger.

2.    Reconcile the books. Once the GL is ready, other reports such as balance sheet and income statement or P&L, will be produced and reconciled. Reconciliation means making sure the numbers show the main financials are backed up.

3.    Review and check. After the main financials were reviewed, they need to be approved by the Controller, CFO or Owner.

4.    Close the books. Closing the books means the controller locks the books. In other words, from that moment nobody can touch the financials anymore except for the adjusting entries, only when is necessary and approved.

If you need help closing your books, contact VictRi Consultants, we can assist you with our professional services.



“Your Word is a lamp to my feet and a light to my path”.

Psalm 119:105

Friday, November 9, 2018

5 SYMPTOMS indicating URGENT BOOKKEEPING Service Help




As a Business Consultant I always try to get the picture of the company (their financials) and many times I find out that either they are not up-dated or simply don’t exist, keep in mind that this is a necessity to keep a business running smoothly at least financially.

The telltale signs that your business needs bookkeeping services urgently often lurk in plain sight. Are any of these symptoms present in your business?

1.    You never have Financial Information up-dated to make decisions.

2.    You don’t have a system to track your payables and receivables.

3.    You are mixing personal & business finances.

4.    Your work life balance is suffering, and you are missing important dates and time with your family or friends.

5.    You are not doing what you do best because you are spending time and distracting your attention in papers, books and numbers.

If you are interested in get rid of those symptoms and getting the best bookkeeping services and support, please contact VictRi Consultants for a free consultation and you’ll start to experience the peace of mind you deserve to focus on the important things of your business.

"Watch yourselves, so that you may not lose what we have worked for, but may win a full reward."

2 John 1:8